Market Snapshots

Bank of America Wave Analysis – 04 December, 2019

Bank of America Wave Analysis – 04 December, 2019
  • Bank of America reversed from support area
  • Likely to rise to 33.65

Bank of America recently reversed up from the support area lying between the key support level 32.30 (low of the previous wave (ii)), lower daily Bollinger Band and the 50% Fibonacci correction of the previous upward impulse from October.

The upward reversal from this support area stopped the earlier correction (iv) of the impulse wave 5 of the impulse sequence (3).

Bank of America is expected to rise further toward the next resistance level 33.65 (top of the previous impulse waves (i) and (iii) from last month).

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